US stocks closed higher on Tuesday, with the Dow Jones Industrial Average gaining 0.60% to 13,248.44, the S&P 500 index rising 0.65% to 1,427.84 and the Nasdaq 100 index surging 1.18% to 3,022.30.

Data on November import prices will be released at 8:30 a.m. ET, while the federal budget statement for the month of November will be released at 2 p.m. ET. The Federal Reserve is scheduled to announce its recent monetary policy decision at 12:30 p.m. ET. However, Federal Reserve Chairman Ben Bernanke will hold a news conference at 2:15 p.m. ET.